Soaring oil prices are directly linked to energy policies implemented by President Joe Biden. Though the president is trying to deny it, but all roads to higher prices lead right back to him.
Biden is denying that his restrictions on American energy production are to blame for the rising energy prices, the Washington Times reported. However, he has stymied the fossil fuel industry and cut directly into the nation’s ability to drill for oil.
The president had placed a moratorium on new leases on federal land to drill for crude oil. Despite being overturned by a judge, the administration still has not granted the leases as promised.
“Nothing is happening. The Biden leasing ban is still in effect,” Kathleen Sgamma, president of the oil and gas producers’ advocacy group Western Energy Alliance, said. “They have not offered one onshore leasing sale. They’re not going to make it for this quarter, either.”
An auction that took place last November as a holdover from former President Donald Trump. However, that sale was vacated by a federal judge and not appealed, a decision which astonished Sen. Joe Manchin III (D-WV).
“It makes no sense at all to me that the decision was made by Interior to not appeal a ruling throwing out the largest Gulf lease sale, particularly when that decision was made several days after Russia invaded Ukraine,” Manchin said at a hearing on the issue. “We cannot take a shortsighted approach that pretends two years without lease sales will have no impact on our domestic oil-and-gas production.”
Without new leases and additional drilling, it makes sense that oil prices would begin to creep up on their own. However, the U.S. has said it will not import oil from Russia after President Vladimir Putin invaded Ukraine only compounds the issue, according to The Hill. This only compounds the existing problem.
Biden has kowtowed to the radical environmental left, and the result is that oil prices are climbing with the dropping supply. The president is squarely to blame for this crisis he created, regardless of how much he tries to deny it.